SCHEDULES

SCHEDULE 2Revaluation of accrued benefits etc

Part 3Consequential amendments

8

1

Section 51ZA of the Pensions Act 1995 (c. 26) (meaning of “the appropriate percentage”) is amended as follows.

2

In subsection (1)—

a

in paragraph (a), for “revaluation percentage” substitute “ higher revaluation percentage ”;

b

for paragraph (b) substitute—

b

in the case of a category Y pension, means the lower revaluation percentage for that period.

3

In subsection (2), for “ “the revaluation percentage”” substitute “ “ “the higher revaluation percentage”, “the lower revaluation percentage” ”.